MIRA
INFORM REPORT
|
Report Date : |
11.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ZAKESTIDIS ST.-MEIDANIS A.-SOFOS E. S.A |
|
|
|
|
Registered Office : |
2, An. Romylias Street Kalochori 57009 Thessaloniki |
|
|
|
|
Country : |
Greece |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Year of Establishment : |
1999 |
|
|
|
|
Com. Reg. No.: |
42340/62/B/99/63 |
|
|
|
|
Legal Form : |
Societe Anonyme |
|
|
|
|
Line of Business : |
Trade of Tires |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
EURO 85.000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
IDENTIFICATION
ZAKESTIDIS
ST.-MEIDANIS A.-SOFOS E. S.A
ADDRESS: 2, An.Romylias street
KALOCHORI
57009
THESSALONIKI-GR
TELEPHONE: 302310-752639
TELEFAX : 302310752925
CURRENCY: Any
amounts hereafter are in EURO unless otherwise stated.
EVALUATION
CONDITION: GOOD
CREDIT: Maximum
EURO 85.000.-
A Financial
Strength of USD 175 - 350 thousand (based on Net Worth)
and an Overall
Condition which is GOOD (Low risk).
SUMMARY
STARTED: 1999
SALES IN: 2007/01-2007/12
-2,739,368 -
YEAR INC: 1999 PROFIT: 39,119
LEGAL FORM: Societe Anonyme NET
WORTH: 285,291
REG NO: 42340/62/B/99/63
NOM CAPITAL: 60,000
CAPITAL: 60,000
GOVT GAZ NO: 1366/1999.03.11
PAID CAPITAL: ALL
VAT NUMBER: 099356078
EMPLOYS: 8
SIC: 5013-5014
ACTIVITY: Trade of tires
SPECIAL EVENTS
No special event
posted against this company.
BANKERS
NATIONAL BANK OF
GREECE-KALOCHORI BRANCH
BANK OF
PIRAEUS-ATHENS BRANCH
EFG
EUROBANK-ATHENS BRANCH
MANAGEMENT COMMENT
NAME AND TITLE OF
INTERVIEWEE: Mrs Chatziioannou,
PRINCIPALS
Zakestidis Stavros
Const.,1b, Kaitetzidi str., Panorama ,chairm&man.director
Sofos Elias
Ant.,17, Possidonos str., Melissia ,managing director
Gennimatas
Nicolaos Chr.,60, Xanthippou str., Holargos ,member
Zakestidou
Sarantoula St.,2, Kaitetzidi str., Panorama,member
Meidanis
Athanassios Ang.,17, Possidonos str., Melissia ,member
HISTORY/OPERATIONS
Subject was
founded in 1999, as a Societe Anonyme, under
the title in caption,
for a 30-year period, with head
office in
Kalochori, Thessaloniki and main line of business
the trade of
tires, spare-parts, etc.
Increase of Share
Capital euros 60.000.- (G.G. 1228/2005)
Subject is legally
represented by Zakestidis Stavros and
Sofos Elias (G.G.
9617/2006)
SHAREHOLDERS/OWNERS
Zakestidi
Chryssanthi, 10,00%
Zakestidis
Constantine, 10,00%
Meidani
Vassiliki, 12,50%
Sfakianakis
Constantine, 05,00%
Sofos Elias
Ant.,17, Possidonos str., Melissia ,
12,50%
Gennimatas
Nicolaos Chr.,60, Xanthippou str., Holargos , 05,00%
Zakestidou
Sarantoula St.,2, Kaitetzidi str., Panorama, 10,00%
Meidanis
Athanassios Ang.,17, Possidonos str., Melissia , 25,00%
Zakestidis Stavros
Const.,1b, Kaitetzidi str., Panorama ,
10,00%
OPERATIONS
It has been
operating offices and storeroom, at the address
and under the
style "ELASTIKOEMBORIKI"
Engaged in
importing and trading (wholesale-retail) tires
and spare-parts
for motor-cars.
Imports from
Korea, China and India.
Terms of imports :
Cash or
Open Credit (3-4 months).
STAFF : 8 people.
Note:
* E-mail address:
hkelast@otenet.gr
* Subject has also
transactions with "PROBANK" in Athens.
* PO BOX: 1314
REAL ESTATE
It is no owner of
any real estate.
Zakestidis Stavros
is owner of :
- a storeroom (m2
850), in Kalochori, Thessaloniki,
- two ground plots
(m2 8.500), in Kalochori, Thessaloniki,
- a two-storey
house, on a ground plot (m2 1.654), in
Panorama, Thessaloniki.
The above was
charged by notices for mortgage.
Sofos Elias is
owner of two ground plots (m2 252 and
m2 252), at 268,
Kifissias avenue, Kifissia, Athens, charged
by a notice for
mortgage.
CORPORATE STRUCTURE
There are no affiliations
or other participations.
PUBLIC NOTICE INFORMATION
=============================================================================
SOFOS
ELIAS ANT.
YEAR PIECES AMOUNT IN EURO.
Court judgments for payment 2001 1
8,804
Court judgments for payment 2000 1
8,804
Notices for mortgage 1993 1
440,205
=============================================================================
ZAKESTIDIS
STAVROS CON.
YEAR PIECES AMOUNT IN EURO.
Notices for mortgage 1998 2
337,491
Notices for mortgage 1996 1 73,368
Notices for mortgage 1995 2
410,858
FINANCIAL INFORMATION
Nothing
adverse has been reported, against subject.
Personally
against Sofos Elias there have been reported
court
orders for payment.
Subject's
share capital is euros 60.000.-, divided in
2.000
shares, valued in euros 30.- each one.
NAME
AND TITLE OF INTERVIEWEE: Mrs Chatziioannou,
accounts office
BALANCE SHEET
December 2007 December 2006 December 2005
ASSETS
NON
PAID UP CAPIT. 0 0 0
ESTABLISH.
EXPENC. 0 0 0
NET
INTABL.ASSETS. 0 0 0
NET
FIXED ASSETS.. 38,169 15,407 17,529
PARTIC.&L/T
CLAIMS 4,989 4,989 4,989
CURRENT
ASSETS
Stocks............ 573,456 517,715
727,772
CLAIMS
Clients........... 1,009,756 842,604
702,746
Bills/cheques
rec. 719,662 755,798 606,403
Bad
debt.......... 0 0 0
Other
claims...... 291,556 292,597 302,628
TOTAL
CLAIMS...... 2,020,974 1,890,999 1,611,777
Bonds
& securities 0 0 0
Cash
& banks...... 41,030 47,442 5,424
TOTAL
CURR.ASSETS. 2,635,460 2,456,156 2,344,973
TRINSIT.ACCOUNTS.. 0 0 0
TOTAL
ASSETS...... 2,678,618 2,476,552 2,367,491
LIABILITIES
PROVISIONS........ 24,477 10,813
10,813
L/T
LIABILITIES... 1,696,585 1,604,832 1,151,304
CURR.LIABILITIES
Suppliers......... 233,932 220,687 474,912
Bills/cheq.payable 280,211 289,078
439,690
Banks............. 0 0 0
Dividends......... 0 0 0
Various
creditors. 91,773 41,904 30,743
Oth.curr.liabil... 66,349 53,286
14,735
TOTAL
CURR.LIABIL. 672,265 604,955 960,080
TRINSIT.ACCOUNTS.. 0 0 0
TOTAL
LIABILITIES. 2,393,327 2,220,600 2,122,197
NET
WORTH
Paid
up capital... 60,000 60,000 60,000
Share
pr.ab.nomin. 0 0 0
Revaluation
reser. 0 0 0
Reserves.......... 64,471 63,004
62,471
Retained
profit... 160,820 132,948 122,823
Accumulated
losses 0
0 0
Dep.for
cap.incr.. 0 0 0
TOTAL
NET WORTH... 285,291 255,952 245,294
PROF/LOSS
ACCOUNTS
Sales............. 2,739,368 2,414,025
2,240,669
Cost
of sales..... 2,109,177 1,853,634 1,739,139
GROSS
INC.ON SALES 630,191 560,391 501,530
OPERATING
INCOME.. 12,862- 11,260 3,584
PROFIT
BEFORE TAX. 39,119 12,450 6,270-
COMPANY & INDUSTRY FINANCIAL
RATIOS
INDUSTRY
SECTOR OF COMPARISON(SIC): 50
COMPARABLE
BUSINESSES IN INDUSTRY SECTOR: 1932
PERIOD December 2007
COMPANY LOWEST MEDIAN
HIGHEST
QUARTILE
QUARTILE
I.PROFITABILITY
Return
on equity.. 13,71 % % 14,42 % 37,16 %
Return
on equity +
L/T liabilities. 1,97 % 2,78
% 11,66 % 32,27 %
Gross
incoming +
sales ratio..... 23,00 % 19,58
% 27,89 % 37,72 %
Oper.inc.to
sales+
ratio........... 0,46-% 0,77
% 3,56 % 8,10 %
Pr/loss
bef.tax. +
sales ratio..... 1,42 % 0,78
% 3,39 % 7,90 %
II.CAPITAL
STRUCTURE
Equity
to total
liabilities ratio 0,11 : 1 0,16 :
1 0,34 : 1 0,78 : 1
Net
fix+net int to
total assets rat 0,01 : 1 0,03 : 1 0,09 : 1 0,24 : 1
Equity+L/T
liabil.
to net f+n intag.
assets ratio.... 45,92 : 1 1,32 :
1 2,67 : 1 7,56 : 1
III.LIQUIDITY
Current
ratio..... 3,92 : 1 1,05 : 1 1,25 : 1 1,64 : 1
Acid
test ratio... 3,06 : 1 0,67 : 1 0,89 : 1 1,17 : 1
IV.
TURNOVER
Aver.collec.period 265,59 d. 254,57 d. 174,79
d. 111,80 d.
Average
period of
purchases outst. 103,41 d. 205,28
d. 122,08 d. 61,38 d.
Aver.stocks
hold.
period......... 97,87 d. 205,68
d. 113,58 d. 54,25 d.
Sales
to net work
capital ratio.. 1,39 : 1 8,17 :
1 3,56 : 1 1,20 : 1
PERIOD December 2006
COMPANY
LOWEST MEDIAN HIGHEST
QUARTILE
QUARTILE
I.PROFITABILITY
Return
on equity.. 4,86 % 2,24 % 12,97 % 32,00 %
Return
on equity +
L/T liabilities. 0,66 % 1,90
% 10,94 % 28,68 %
Gross
incoming +
sales ratio..... 23,21 % 19,67
% 27,52 % 36,85 %
Oper.inc.to
sales+
ratio........... 0,46 % 0,62
% 3,30 % 7,87 %
Pr/loss
bef.tax. +
sales ratio..... 0,51 % 0,53
% 3,20 % 7,55 %
II.CAPITAL
STRUCTURE
Equity
to total
liabilities ratio 0,11 : 1 0,17 :
1 0,36 : 1 0,82 : 1
Net
fix+net int to
total assets rat - 0,03 0,10 0,25
Equity+L/T
liabil.
to net f+n intag.
assets ratio.... 91,23 : 1 1,27 :
1 2,56 : 1 7,24 : 1
III.LIQUIDITY
Current
ratio..... 4,06 : 1 1,05 : 1 1,23 : 1 1,61 : 1
Acid
test ratio... 3,20 : 1 0,66 : 1 0,87 : 1 1,13 : 1
IV.
TURNOVER
Aver.collec.period 282,00 d. 242,50 d. 167,78
d. 108,61 d.
Average
period of
purchases outst. 107,14 d. 210,87
d. 124,82 d. 63,54 d.
Aver.stocks
hold.
period......... 100,54
d. 211,09 d. 118,46 d. 56,02 d.
Sales
to net work
capital ratio.. 1,30 : 1 8,96 :
1 3,85 : 1 1,19 : 1
PERIOD December 2005
COMPANY LOWEST MEDIAN
HIGHEST
QUARTILE
QUARTILE
I.PROFITABILITY
Return
on equity.. 2,55-% 4,92 % 18,58 % 42,76 %
Return
on equity +
L/T liabilities. 0,44-% 4,00
% 15,79 % 39,05 %
Gross
incoming +
sales ratio..... 22,38 % 19,70
% 27,47 % 36,48 %
Oper.inc.to
sales+
ratio........... 0,15 % 1,22
% 4,40 % 9,08 %
Pr/loss
bef.tax. +
sales ratio..... 0,27-% 1,13
% 4,25 % 9,00 %
II.CAPITAL
STRUCTURE
Equity
to total
liabilities ratio 0,11 : 1 0,18 :
1 0,37 : 1 0,79 : 1
Net
fix+net int to
total assets rat -
0,02 0,09 0,23
Equity+L/T
liabil.
to net f+n intag.
assets ratio.... 62,02 : 1 1,33 :
1 2,71 : 1 7,50 : 1
III.LIQUIDITY
Current
ratio..... 2,44 : 1 1,06 : 1 1,23 : 1 1,59 : 1
Acid
test ratio... 1,68 : 1 0,68 : 1 0,87 : 1 1,13 : 1
IV.
TURNOVER
Aver.collec.period 258,95 d. 212,29 d. 147,65
d. 95,44 d.
Average
period of
purchases outst. 195,68 d. 191,06
d. 114,79 d. 59,32 d.
Aver.stocks
hold.
period......... 150,64 d. 193,17
d. 109,25 d. 51,32 d.
Sales
to net work
capital ratio.. 1,61 : 1 9,82 :
1 4,38 : 1 1,48 : 1
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.52 |
|
UK Pound |
1 |
Rs.72.62 |
|
Euro |
1 |
Rs.63.76 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)